Report Overview

Global Cloud Robotics Market was valued at USD 2.44 Billion in the year 2017. Global Cloud Robotics Market is further estimated to grow at a CAGR of 29 % from 2018 to reach USD 11.24 Billion by the year 2023. Cloud robotics is based on a model where remote computing resources enable higher memory, computational power, collective learning, and interconnectivity for robotics application. It can be classified as hardware, software, and services

The global Cloud Robotics Market is segmented on the basis of Type, By End-Users, and by region. On the basis of the type, the market is segmented as industrial robot and service robot of which Industrial Robot segment is expected to hold the highest market share during the forecast period and are expected to grow with highest CAGR. Growing penetration of the IoT and investments in robotics have been the major contributors to the growth of industrial robotics. On the basis of End-Users, the market is segmented as Manufacturing, Military and Defense, Retail/e-commerce, Healthcare and Life Sciences and Others (Personal Assistance, Entertainment) in which Manufacturing segment holds the highest market share in the forecasted period.

North America region holds the highest market share in 2017 and the Asia Pacific is considered as the fastest growing market in the forecasted period. At the country level, China is the major markets in the Asia Pacific region and holds a substantial market share in 2017 and it is projected to grow at a gradual pace in the coming years. China is one of the biggest markets for robotics in the world. According to the IFR, 30% of the total supply of industrial robots in 2016 were installed in China.

Drivers:

proliferation of the Cloud Technology.

Broad Spectrum Use of Wireless Technologies and Smart Devices

Restraints:

Data Privacy and Security Concerns

High Initial Costs and R&D Expenses

Opportunities:

Increase in the Use of Robots for Industrial Automation

Rise in Demand for Robotics-As-A-Service (RaaS)

Challenges:

Longer Time to Commercialize the Robots

Amazon Robotics (US), Google (US), Huawei (China), IBM (US), Microsoft (US), C2RO (Canada), Cloud Minds (US), Hit Robot Group (US), V3 Smart Technologies (Singapore), and Tend (US) are some of the key players in the global Cloud Robotics Market. Rising research and development expenses to address the changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the top players in the last 5 years.

Key Benefits for Stakeholders

Software vendors

Machine-to-Machine (M2M) and telecom providers

Internet of Things (IoT) platform/middleware providers

Device and sensor providers

Cloud platform providers

Third-party integration providers

Consultancy firms and advisory firms

By Type

Industrial Robot

Service Robot

By End-Users

Manufacturing

Military and Defense

Retail/e-commerce

Healthcare and Life Sciences

Others (Personal Assistance, Entertainment)

By Region

North America

Europe

Asia-Pacific

RoW

Key Market Players

Amazon Robotics

Google

Huawei

IBM

Microsoft

C2RO

Cloudminds

Hit Robot Group

V3 Smart Technologies

Tend

(Another brief information of 10 companies will be provided in the report.)

Raw Market Data is collected and compared with the Existing in-house Data on a broad front.

Both Bottom-Up and Top-Down approaches are analyzed for segmenting and estimating measurable aspects of the market.

To avoid bias, we filter the collected data collected from authenticated sources.

GMI has a well proven Statistical Modeling System for estimates and forecasts.

Further, the report findings are validated with the Industry Expert Panel on face to face or telephonic interviews.

Panelists are approached from Leading Enterprises across the value chain including manufacturers, suppliers, technology providers, domain experts and buyers so as to validate a thorough and balanced market overview.

Detailed customization is also available for you. Further, if the report listed above does not meet your key requirements. Our customized research report will analytically cover the required market information you need which will help you to plan your business decisions.